Reds won the 2007 AFC Champions League this year whilst also finishing third in the FIFA Club World Cup but missed out on the J League title to Kashima Antlers on the final day.
Consequently they are keen to bolster their side in an effort to improve on that next season and have already signed Brazilian forward Edmilson from J League side Albirex Niigata to fill the void left by Washington, who recently left to return to Brazil.
And now they have set their sights on the 28-year-old Takahara, who has featured in five games for Frankfurt this season after recovering from an injury he picked up in August.
"We need a top-quality goalscorer in order to retain our Asian title and win the J. League title back next year," Urawa general manager Suzo Nakamura said.
"Takahara is our main choice as he is a top quality international forward.
"There are some hurdles to clear but Takahara has shown a positive reaction with regards to playing for Urawa."
The deal could be completed within the next week if all parties come to an agreement.